In The News

Theorist Eric Maskin: Globalization Is Increasing Inequality

July 15, 2014
Waves of trade and globalization can lift average incomes and reduce inequality, but that requires intervention to prevent rewards landing in only a few hands. Nobel Laureate Eric Maskin of Harvard University points to two types of inequality for World Bank News: In the more tolerable case, only select industries and their workers benefit from increased demand, and “In the ‘worse’ version, the...

Will the European Union Crack?

Nayan Chanda June 16, 2014
Stagnation, unemployment, pessimism in democracies can motivate voters to endorse change. In India, voters embraced the growth policies of Narendra Modi while in European Parliament elections, extremists who oppose immigration and integration made gains. The similarities end there, suggests Nayan Chanda, editor of YaleGlobal in his column for Businessworld, and the trends in Europe expose “the...

The Great Backlash

Nouriel Roubini June 4, 2014
Nationalism, populism, isolationism and xenophobia are emerging and gaining traction even in the world’s most advanced countries in response to the 2008 global recession. Economist Nouriel Roubini, writing for Project Syndicate, reviews global political trends and draws parallels with those in Europe just before the Second World War. He points to the rise of nationalist governments in Asia and...

Status in the New Asia

Roger Cohen May 14, 2014
The desire to feel special is a universal quality among humans. People who no longer must worry about survival and security pursue status in varying ways including wealth, knowledge, purpose or notice. The notion that globalization equals homogenization is too simple, argues Roger Cohen, in his column for the New York Times. “‘Mass’ is becoming a problematic word in the global marketplace,” he...

The Rise of Asia Means You Need Different Style of Leadership

Rick Lash April 29, 2014
The challenges of globalization and global markets require new leadership – of broader collaboration among diverse players. “Countries and organizations can no longer operate under the outdated notion that they are surrounded by intact borders and bear sole responsibility for taking charge over what happens on their turf,” writes Rick Lash for the Globe and Mail. “Leadership in the new world...

On the Wrong Side of Globalization

Joseph E. Stiglitz April 7, 2014
Trade adds to market efficiency and the diversity of goods. But unlike trade agreements of old, which focus on eliminating ineffective tariffs, the modern agreements focus on non-tariff barriers and minimizing regulations that protect consumers, workers and the environment. Economist and Nobel laureate Joseph Stiglitz – weighing in on the Trans-Pacific Partnership, a proposed agreement of 12...

Tread With Caution in Highly Sensitive Burma

David I. Steinberg February 13, 2014
The government in Burma (Myanmar) is loosening political controls, and welcoming more trade and interactions with the rest of the world. The strong culture has resisted waves of Indian, Chinese and Western influences in the past, suggests David I. Steinberg, distinguished professor of Asian Studies emeritus at Georgetown University, and new connections are introducing rapid change that could...